Insurance Information Institute Reviews College Student Coverage

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Westfield Insurance Teen College Student

While students begin to prepare for their return to college campuses, parents can prepare as well by reviewing their insurance policies and coverage. According to the Insurance Information Institute (III), college students moving to on- or off-campus should make sure their personal possessions are covered on their current plans.

Following are several types of coverage to consider for your college student:

Renters Insurance

Depending on the policy, students living on-campus may have protection for personal possessions on their parents’ homeowners or renters insurance. Students living off-campus, however, may need to purchase their own rental coverage. Check with your insurance agent for more information.

Tuition Insurance

Tuition coverage refunds partial tuition and room and board when a student withdraws due to a medical reason, including emotional, nervous or mental disorders. Student loans used to pay for tuition can also be covered by this policy.

Life Insurance

Contact your life insurance agent to determine if supplemental coverage is needed, which can ensure that financial resources will be available for tuition if tragedy strikes.

Additional Precautions:

  • Consider purchasing stand-alone policies for computers and other electronics in case of accidental damage or other incidents not covered by homeowners or renters insurance.
  • Create an inventory of items and their estimated values your student takes with them in case of theft, fire or other disasters.
  • Ask your auto insurance agent about discounts; many auto companies discount students who are in good academic standing or other qualifications. 
  • Add on a personal property floater for high-value items like jewelry or musical instruments that might otherwise be limited on a standard homeowners or renters policy.

For more information on insurance, read the full Insurance Information Institute article.

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